All those remarks on our cr's are meaningless. I was like you and thought just have a few cards and PIF. I am now a firm believer in the 1-9% util on all revolving TLs. The number of cards is up to the individual as long as they use them responsibly. PIF might demonstrate fiscal responsiblity, but it does not improve your FICO scores. The FICO score simulator and link your referring to are hardly accurate too.
@Anonymous wrote:
@Tuscani wrote:I woulnd't agree with that. What leaves you to believe this is true?
@Anonymous wrote:
While many of us have different opinions on the magic number I think we all agree using more than 4 at a time will lower your score. While you might have many, limit use to 4 or less when pulling your credit scores.
Too many cards with balances (CODE 05). That was always a neg on my scores until I reduced the number of cards with balances. I moved the balances to limit how many were in use. Negative message disappeared and was replaced with Length of time.... not long enough.
That and the FICO calculator on bankrate.com also shows fewer balances help.
link http://www.bankrate.com/brm/fico/calc.asp?lpid=BKRATE29
Has this changed? Does it no longer matter how many cards have balances?
dog wrote:
gee, thanks a lot everyone. what kind of effect is that going to have on my scores??!???
You didn't actually apply for 35 cards, right?????
hell no, i was just kidding!
Tuscani wrote:The magic number is............42 Cards!
I am glad someone reads H2G2 and understands towels
@MidnightVoice wrote:I am glad someone reads H2G2 and understands towels
You're aware that Experian and Cingular are staffed by Vogons, right?
Well, I have noticed the similarity of their comments to Vogon poetry